So much has been written lately on the Boomer vote and how it is driven by the Medicare debate and the generation's desire to protect their retirement. This oversimplified sound bite doesn't represent the policy challenges facing every county, city, and state as the population ages.
We've seen the topic of aging in place addressed before, and it seems like it's finally starting to catch on. However, the possibilities for optimal care infrastructure for aging in place - technology, existing housing stock, funding sources, and the businesses and services available - are still not being fully realized.
Marketers, start your holiday campaign engines! If you are not including Baby Boomers in your target audience, your competitors will be. Baby Boomers buy for themselves but also for their parents and their children. In fact, Baby Boomer women influence 80% of household buying decisions.
While many marketers are apt to lump all Boomers into one bucket, there is a large enough age variance in the demographic so that Boomers fall into two distinct groups. There's the older Boomer, who is marching into retirement, and there's the Boomer at the younger end of the generation, who's now hitting his or her peak buying power. Younger Boomers (roughly ages 48-58) really don't have as much in common with the older portion of the cohort as commonly believed. While their older brothers and sisters transition to retirement, the 48-58 year olds are in positions of leadership and ...
We all know the basic facts about Boomers and money. Most of them haven't saved enough for retirement. While they will benefit from a large transfer of wealth when their senior parents die, they are already being taxed by adult children who are a long way from achieving financial independence themselves, and, like the rest of us, haven't fully recovered from the Recession. While there are dozens of companies who say they want to help Boomers sort out these problems and plan for retirement, the Boomers aren't buying. Our own research confirms what others have found: at least two-thirds of ...
Having spent the last five years working with the 50+ market, I've experienced both the upside and the downside of 50+ marketing. I've witnessed smart marketers generate revenue and increase share by directly and intelligently targeting older consumers, and I've also heard a variety of excuses for ignoring this market. The most recent one goes something like this: "We're using digital media, and we can't reach older consumers online. Those who are online don't know what they're doing beyond email."
Last year, my colleague and mentor, the late David Wolfe, recommended I read a book by British neuropsychiatrist Iain McGilchrist. "The Master and His Emissary: The Divided Brain and the Making of the Western World" is the title. I've read several books on how the mind works, including "How We Decide" by Jonah Lehrer and "The Mature Mind" by Gene Cohen. Although clearly not a neuropsychiatrist, I've tried to keep current with brain science.